Nifty Outlook for 16th Jun

 In the previous session :

Nifty went up by 89 points before closing higher by 57 points on Tuesday.

Nifty made a new life time high of 15901.60 in this upmove from the lows of 7511.10 made on 24th March 2020

On 15th Jun :

Nifty triggered our long trade and nearly completed all targets doing 60 points.

For 16th Jun :

Sustaining above 15905 enter for 15915 - 15930 - 15980 , SL 15875

Sustaining below 15835 enter for 15825 - 15810 - 15760 , SL 15860

Now for this week :

Nifty has immediate resistance at 15840 - 15890 zone and sustaining or closing above we may see a further move towards 15940 - 15960 zone

Nifty has immediate support at 15755 - 15710 and sustaining or closing below that we may see a move towards 15660 - 15640 zone

So far this week Nifty made a low of 15606.50 breaking below our next support zone but bounced back strongly to make a high of 15901.60 above our initial resistance zone and also closed within it . Now in the coming session Nifty has to break and sustain above 15890 to move up further towards 15940 - 15960 zone.

Caution advised on entering fresh longs once we reach the levels of 15890 - 15960 on further upmoves.

Nifty needs to give a close below 15600 for any signs of a bigger move on the downside

In the month of May Nifty made a high of 15606.35 and made a low of  14416.25 .

For the month of June Nifty has to give a consecutive close above 15825 for the upmove to gain strength. On the downside Nifty has to give a consecutive close below 15340 for a stronger correction.

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.